Intel will invest between $6 billion and $8 billion on next-generation manufacturing technology across its American manufacturing facilities. The investment will ultimately create up to 1,000 high-tech jobs.
"Today's announcement reflects the next tranche of the continued advancement of Moore's Law and a further commitment to invest in the future of Intel and America," said Intel President and CEO Paul Otellini. "The most immediate impact of our multi-billion-dollar investment will be the thousands of jobs associated with building a new fab and upgrading four others, and the high-wage, high-tech manufacturing jobs that follow."
The company says the expansion is necessary to accommodate continued growth in the PC market, and other computing segments such as mobile and embedded computing. The project will entail deploying 22-nanometer manufacturing processes in several existing U.S. facilities.